Reasons Why This Plan is Suitable for Tomorrow!
Choice to receive guaranteed¹ returns as lumpsum at maturity or in of 5 equal annual instalments
Base or Enhanced Cover to cater to your family’s future financial protection needs with 10 times or 20 times the premiums⁴
Option to continue reaping policy benefits with all future premiums waived off, on unfortunate demise or diagnosis of a critical illness
Save taxes up to ₹64,116* with premiums u/s 80(C) and avail tax benefit³ on your maturity benefit u/s 10(10D)
Benefits of Guaranteed Saving STAR
Lumpsum or Regular Guaranteed1 Returns
Pay-out as you like! With an option to receive guaranteed1 returns as lumpsum at maturity or in a regular stream of 5 equal annual instalments, this is the plan you need to chase your dreams. Such flexibility makes it easy for you to fulfil future goals such as buying your dream house, a luxury car, saving for your child’s higher education, etc.
Enhanced Cover Option to Protect Your Family
Higher cover for advanced security! This plan offers Enhanced Cover option, through which you can safeguard your loved ones’ futures with 20x the premium4 paid in case you’re not around to look after them.
Long Term Savings & Protection
Hit a century, tension-free! Guaranteed1 savings and life cover for a policy term as high as 40 years. On entering the policy at age sixty, protect your loved ones till you hit a century and enjoy savings that lasts a lifetime.
Family Income Benefit
Benefits you can’t ignore! This optional benefit ensures that in case of an unfortunate death or diagnosis of covered Critical Illness, you and/or your family continues to receive the policy benefit, with all future premiums waived off. There are two options under this benefit - Family Income Benefit on Death & Family Income Benefit on Critical Illness and Death.
Deductions, that everyone dislikes! The premiums you pay towards this plan are eligible for tax deductions up to ₹64,116* under section 80(C) and the returns you receive have tax benefits³ under section 10(10D). This makes investing in this plan a smart investment.
With this rider, you can get a lump sum amount to manage your expenses in case total or permanent accidental disability has hindered your earning capacity.
With this rider, if the proposer of the policy suffers from an unfortunate event like death, disability or critical illness, all future premiums are waived off and the policy continues for the life insured.
Asia's Best Insurance Company Award for CSR Activity & Digital Sales Channel^¹
BFSI Excellence - Life Insurance Company of the Year 2021^²
Best Customer Experience & Contact Center Management - Life Insurance 2021^³
Thanks, all queries resolved in one call to satisfaction. I am rating the services as 10.
Very helpful during call thanks to Ms Ayesha A customer care executive
He was very much clear about the issue and the importance of it.. Thanks rohit
Your customer support is doing excellent job.keep up the good work.
The Customer Care Executive - Ms Afreen Sheikh was very prompt in resolving my query!!
A guaranteed savings plan is a great choice for someone who wants to save and accumulate wealth for the future. It helps you create financial discipline in your life. Along with life insurance coverage, such plans also provide guaranteed returns. With the guaranteed returns received from the plan, you can easily plan and fulfil your long-term and short-term goals.
Edelweiss Tokio Life – Guaranteed Savings STAR is a guaranteed returns plan designed for you to save for your future. You can choose to receive your pay-out as lumpsum or as a regular stream over 5 years. With two plan options, i.e., Base Cover and Enhanced Cover, you can also protect your loved ones with 10x and 20x sum assured of the premium paid, respectively.
This plan helps any earning/business professional to set aside regular savings as small as Rs. 500 per month for wealth creation and tax-benefits. Be it a working woman, salaried professional, self-employed or businessman, this plan provides you a boost to fulfil your goals. With a savings plan, you can achieve life goals like child’s education or marriage. You can also fulfil other goals such as buying a luxury car, your dream home or planning a peaceful retirement.
Yes, all the benefits in this plan are guaranteed.
Life Cover is available throughout the policy term, provided all premiums are paid and the policy is in-force.
The product offers following two Plan Options. The Policyholder needs to select one of the Plan Options at inception – Base and Enhanced Cover.
With ‘base’ plan option, there is an additional optional benefit of Family Income Benefits - Family Income Benefits on Death and Family Income Benefits on Critical Illness and Death. This benefit ensures that in case of an unfortunate event of death or diagnosis of covered Critical Illness of the Life Insured, you and your loved ones don’t have to compromise on your dreams as you/they will continue to receive benefit.
For the Base Cover option, the Premium Paying Term (PPT) options are 5, 8, 10 & 12 years. However, if you plan to go for the Enhanced Cover option, the Premium Paying Terms (PPT) are 8, 10 and 12 years.
Yes, you can get a policy loan once policy acquires surrender value.
You have a period of 15 days from the date of the receipt of the policy document. Policies sold through Distance Marketing will have a free look period for 30 days.
In case of death due to suicide within 12 months from the risk commencement date or from the date of revival of the policy, your beneficiary shall be entitled to receive at least 80% of the Total Premiums Paid, provided the policy is in in-force.
A rider is an additional and optional benefit that you can choose, to enhance your plan.
Following are the riders available with this plan:
Grace period of 15 days, where you pay the Premium monthly, and 30 days in all other cases, is available.
When bought online, the minimum premium for annual mode is Rs 6,000, for semi-annual mode is Rs. 3,072, for quarterly mode is Rs. 1,560 and for monthly is Rs. 500. There is no limit for maximum premium and is subject to board approved underwriting policy.
The minimum entry age without Family Income Benefit is 0 years and with Family Income Benefit is 18 years.
1- This is applicable only if all due premiums are paid and the policy is inforce.
2 - The minimum premium amount under this plan is ₹ 500/- per month when bought online. The premium amount is applicable when premium payment mode is selected as annual. The minimum premium for annual mode is consistent with minimum sum assured on death available under the product. For other than annual mode, the minimum premium is consistent with minimum premium for annual mode after allowing for modal factors.
3- As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
4 – On selecting plan option Enhanced Cover, the Sum Assured on Death at any point of time, provided the policy is in-force is highest of: - 20 times the annualized premium or any absolute amount assured to be paid on death or 20 times the annual premium. Annualized Premium shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. Annual Premium shall be the premium payable in a year chosen by the Policyholder, including loadings for modal premiums and the underwriting extra premiums, if any but excluding the taxes, rider premiums, if any.
5 – On selecting plan option Base Cover, the Sum Assured on Death at any point of time, provided the policy is in-force is highest of: - 10 times the annualized premium or any absolute amount assured to be paid on death or 10 times the annual premium. Annualized Premium shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. Annual Premium shall be the premium payable in a year chosen by the Policyholder, including loadings for modal premiums and the underwriting extra premiums, if any but excluding the taxes, rider premiums, if any.
6 - Income Benefit payouts are paid End of the Year.
9- Riders are Optional and available at extra cost. Please refer rider brochure for more details.
*Applicable where the taxable income exceeds Rs. 5 crores. Tax benefit of ₹ 64,116 is calculated at highest tax slab rate of 30% (in addition to income tax, a surcharge of 37% is applicable where the Taxable Income exceeds 5 Crores) on life insurance premium u/s 80C of ₹ 1,50,000. As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
^¹ - Festival Of Insurance Awards 2020 on Sahara Samay Hindi News Channel on 27th December, 2020 - YouTube. For CSR Activity and Digital Sales Channel (Insurance Alerts Excellence Awards 2020)
^² - https://cloud-user-recordings-ffmpeg-converted-prod.s3-ap-south-1.amazonaws.com/recordings/ccd117b0-be48-11eb-9782-b590083730e8/3b7e25a3-b9b4-47b0-9f68-70eeb8062d60/ccd117b0-be48-11eb-9782-b590083730e8_0001_474830a2.mp4 (Quantic Business Media)
^³ - https://thealdenglobal.com/inflection-conference-awards/
Edelweiss Tokio Life - Guaranteed Savings STAR is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan. Tax benefits are subject to changes in the tax laws. The tax benefits under this Policy may be available as per the prevailing Income Tax laws in India. For more details on risk factors and terms and conditions, please read sales brochure carefully before concluding a sale.
IRDAI Reg. No.: 147. CIN: U66010MH2009PLC197336. UIN: 147N074V01.